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Real Estate Trends

2018 Real Estate Trends

2017 has been a great year for real estate. Housing prices are up and there is an influx of people interested in buying a home. Real estate is expected to remain a large market throughout 2018, but a few key changes may affect your business.

  1. Get Ready for Supply to Catch Up with Demand
    It's been three long years of housing shortages but realtor.com is predicting an increase in homes on the market by the second half of 2018. Of course, an increase in supply will lead to a decrease in overall cost. This should help prospective home buyers find a place that meets their needs and budget. However, this increase in for-sale homes is mostly due to new builds which will not help the "starter home" market.
  2. Millennials are Expected to Join the Housing Market in a Big Way
    Millennials as a whole are having more luck taking out mortgages of varying prices, enabling them to purchase houses other than"starter homes".  Millennials are expected to make up 43% of home buyers by the end of 2018. Check out this list of features commonly requested by millennials.
  3. The Southern market is booming
    Cities like Tulsa, Oklahoma, Little Rock, Arkansas, Dallas, Texas, and Charlotte, North Carolina are expected to see more than 6% growth compared to 2.5% nationally. This draw is partly due to climate and partly due to the low costs of real estate and living. 

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